AppLovin Co. (NASDAQ:APP) Shares Sold by Comerica Bank

Comerica Bank decreased its stake in shares of AppLovin Co. (NASDAQ:APP) by 11.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 140,835 shares of the company’s stock after selling 17,984 shares during the quarter. Comerica Bank’s holdings in AppLovin were worth $45,607,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Fuller & Thaler Asset Management Inc. purchased a new stake in AppLovin during the 4th quarter worth about $25,000. GHP Investment Advisors Inc. acquired a new stake in shares of AppLovin during the 4th quarter worth about $25,000. Riverview Trust Co lifted its stake in AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after purchasing an additional 82 shares during the last quarter. Tucker Asset Management LLC acquired a new position in AppLovin in the fourth quarter valued at approximately $28,000. Finally, Hemington Wealth Management lifted its position in shares of AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after buying an additional 40 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In other news, CEO Arash Adam Foroughi sold 44,400 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $410.89, for a total value of $18,243,516.00. Following the completion of the sale, the chief executive officer now owns 2,869,492 shares of the company’s stock, valued at approximately $1,179,045,567.88. The trade was a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of the transaction, the chief technology officer now owns 88,389 shares of the company’s stock, valued at $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is currently owned by insiders.

AppLovin Trading Up 1.4 %

NASDAQ APP opened at $288.88 on Wednesday. The firm has a market capitalization of $98.21 billion, a price-to-earnings ratio of 63.63, a PEG ratio of 3.02 and a beta of 2.39. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15. The company’s 50 day moving average price is $283.75 and its 200 day moving average price is $303.01.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. On average, sell-side analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on APP shares. Wells Fargo & Company decreased their price objective on shares of AppLovin from $538.00 to $386.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Piper Sandler decreased their target price on AppLovin from $575.00 to $425.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a report on Monday, April 21st. Arete Research set a $200.00 price target on shares of AppLovin in a research note on Wednesday, March 5th. Finally, Benchmark increased their target price on shares of AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $415.15.

About AppLovin

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.